RE: Why is RKH De Ramped so badly9 Aug 2020 22:49
Don't think Cyclops, or the rest of us, need to disappear up our own *rses on PMO's RNSs re capitalised costs.
What exacty is Cyclops saying? Of course Isobel isn't going to be developed as part of phase 1!
I don't think any of us are gurus on international financial reporting standards for capitalised exploration and development costs. But the point is PMO have publicly, as we have all known for months, paused the project in terms of its engineering costs, ie except for commercial, financial and regulatory matters and anyone with an ounce of sense, integrity or commercial nouse would see a change in accounting for capitalised costs in that context.
It doesn't change anything apart from further impairing old Cyclops' vision!
But yes, Isobel is potentially an absolute diamond. Its the further development opportunities, ie Isobel, that are the real carrot for Navitas.